Litecoin Price Analysis: LTC’s Dramatic Movement Takes the Price to $40

 Litecoin Price Analysis: LTC’s Dramatic Movement Takes the Price to $40

Litecoin has been registering a tight hold around $40. The price was spotted falling a few days back and after the same, the currency booked a substantial improvement and the price counter returned to $40. Today, despite of market pressure, the LTC price has managed to climb to the same level. The upcoming period in 2020 is anticipated to be great. The best suited investment for Litecoin is the long-term investment. The same would bring desired outlay of profit to the investors.

LTC/USD Price Chart:

Litecoin (LTC) Price News

Yesterday, Litecoin started the day at $39.11 and in next 30 mins, the price escalated to $39.84. The coin couldn’t hold this level for long and dropped to $38.42 at 04:17 UTC but the following hours brought a ray of hope. The LTC marked steep upward move and the price touched $40.88, but the pullback pressure brought the price back to $39.

Further, Litecoin price spiked to $40.12 at 13:07 UTC, but again dropped to $38.91. The closing hour brought the desired upsurge. The coin traded to $41.08 in the next 8 hours. Somehow, the pullback pressure stroked again and the day ended at $40.72. The day-long movement in the LTC brought 4.19% progression.

Today, Litecoin began with a moderate plunge which recovered to $40.5 in the next hour. Later, the price dropped to $39.10 at 03:46 UTC but the recovery has embarked and the coin marked steady upside movement. Litecoin is trading presently at $40.170 which seems tilted towards the immediate resistance level at $41.4. The same might breach in the upcoming hours. However, if the market falls, then the immediate support level is created at $38.92.

Rebecca Burke

Rebecca Burke is a freelance writer and a Litecoin fanatic. She has over three years of writing experience working in different areas of cryptocurrencies. Rebecca believes in the disrupting power of cryptocurrencies and blockchain technology; hence she's on a mission to help spread the good news about the crypto industry.

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